VEON Ltd. (Nasdaq: VEON, "VEON"), a global digital operator, today announced that the Competition Commission of Pakistan ("CCP") has authorized the acquisition of TPL Insurance Limited ("TPL Insurance") by its subsidiary Jazz International Holding Limited ("JIH"). The clearance, granted following a Phase-I competition assessment that found no competitive concerns, enables the companies to proceed towards closing transaction in mid-2026.

TPL Insurance is Pakistan's premier digital-first insurer, with an AA credit rating by the Pakistan Credit Rating Agency, a general insurer license, and a fully digital operating model built for scale. The company had a gross written premium of PKR 5.7 billion and over 277,000 policies issued as of December 31, 2025. The acquisition, announced on March 6, 2026, will see JIH acquire a controlling stake in TPL Insurance for approximately PKR 4.15 billion (USD 14.6 million).